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One last blog post for this week... The below jibes with our global infrastructure theme for 2026... Our Mexican equity exposure is seeing quite the lift on this news today... Our other infrastructure plays are trending nicely as well:
The following from Bloomberg this evening jibes with the notion that indeed the recent rally in precious metals owes itself, to some degree, to the proverbial safety trade — as I suggested in Wednesday's video.
FYI email recipients, per the intro, recorded this last evening
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“The US economy has remained resilient. While labor markets have softened, conditions do not appear to be worsening. Meanwhile, consumers continue to spend, and businesses generally remain healthy. These conditions could persist for some time, particularly with ongoing fiscal stimulus, the benefits of deregulation and the Fed’s recent monetary policy. However, as usual, we remain vigilant, and markets seem to underappreciate the potential hazards - including from complex geopolitical conditions, the risk of sticky inflation and elevated asset prices.”
As I've expressed of late, there's some cause to be bullish -- for the first half of this year in particular... But, then again, as I've also stressed, hedging is more than warranted right here as well -- particularly, since, per the following, investors are largely not doing so.
Bloomberg's Ed Harrison is, as usual, making sense this morning:Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the wheel to the left of the YouTube icon to adjust:
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